When Will All the Jobs Return?

Politico: “The U.S. economy is sitting in its deepest hole since the Great Depression, with more than 33 million Americans losing their jobs in just seven weeks and an unemployment rate likely to top 20 percent this year under the weight of the coronavirus pandemic.”

“And it’s likely to take years — perhaps much of the next decade — to dig out.”

“President Trump is agitating for a rapid reopening of the U.S. economy to help reverse the damage quickly, hoping a swift bounce back would boost his reelection prospects in November. But the recovery is likely to be weighed down by severe damage to the private sector and a resistance to returning to the old normal, keeping the jobless rate still near 10 percent — the high of the Great Recession — by the end of 2021, a year into the next presidential term in office.”